EUR: beating the USD so far
Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
GBP/USD finds a support
During the conference in Hague, German Chancellor Angela Merkel said that the EU would find a backstop solution by October 31 (Brexit deadline). GBP/USD positively reacted to her comments and jumped by more than 140 pips. At the moment of writing, the cable has been testing the resistance at 1.2250. If this level is broken, the next resistance will lie at 1.23. If bears take over the market, the pair will reverse towards the 1.2108 level. The next key level for bears will be placed at 1.2042.
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Trade ideas on May 29
Let’s look at main movements on the market.
EUR: beating the USD so far
Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
All attention to AUD: cash rate and RBA statement
The Reserve Bank of Australia will make a statement and release the cash rate on Tuesday, June 2, at 8:30 MT time.
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